DOWN

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The Independent Online
Schroders, Britain's biggest remaining investment bank, slumped 7 per cent last week, hurt by recent declines in the Asian stock market. Hong Kong's benchmark Hang Seng Index fell 6.5 per cent last week. In March Schroders took a pounds 32m charge to set against 220 Asian job cuts and exposure to potential losses in the region. To add to its woes, the company was rated 60th out of 66 pension fund managers in a survey compiled last month by Caps, a service that measures fund performance. Against an average return of 16.6 per cent, Schroders turned in a return that was lower than 14 per cent.

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